Which of the following statements is correct, when comparing the profits reported under marginal and absorption costing during a period when the level of inventory decreased? A Absorption costing profits will be higher and closing inventory valuations lower than those under marginal costing. B|Absorption costing profits will be higher and closing inventory valuation higher than those under marginal costing. C Marginal costing profits will be higher and closing inventory valuations lower than those under absorption costing. D Marginal costing profits will be higher and closing inventory valuations higher than those under absorption costing